My buddy has an old hooptie that keeps dying on him and hes getting a loan from a guy at work on that guys car.

The guy gave him a thing saying 10% compound interest and we were both like,

That's really not terrible considering how short the term is. It's not going on his credit that way though. If he can borrow that money from a bank and spread it over at least 12 months, his score will go up nicely when it's paid.

If the guy is getting like 15% or less it's worth it, otherwise take those terms and run.